Each Contracting Party shall accord to Investments in its Area of Investors of other Contracting Parties, and their related activities including management, maintenance, use, enjoyment or disposal, treatment no less favourable than that which it accords to Investments of its own Investors or of the Investors of any other Contracting Party or any third state and their related activities including management, maintenance, use, enjoyment or disposal, whichever is the most favourable.
The Russian Federation may require that companies with foreign participation obtain legislative approval for the leasing of federally-owned property, provided that the Russian Federation shall ensure without exception that this process is not applied in a manner which discriminates among Investments of Investors of other Contracting Parties.
Award, 23 September 2010, paragraphs 11.3.2-11.3.3, 12.3.2 – 12.3.3
Partial Award on Jurisdiction and Liability, 2 September 2009, paragraphs 272-277
Decision on Jurisdiction, Applicable law and Admissibility, 30 November 2012, paragraphs 7.162-7.164
Award, 25 November 2015, paragraphs 190; 219; 223
Award, 16 December 2003, paragraph 4.3.2.b